Csi Properties Limited · HKEX:497
Csi Properties — 1H FY2026 Earnings Presentation
27 slides from Csi Properties's earnings presentation, November 2025
Slide 1: 1H FY 2026 Results Presentation
1H FY 2026 Results Presentation NOVEMBER 2025 STRICTLY PRIVATE AND CONFIDENTIAL
Slide 2: Disclaimer
Disclaimer The information contained in this presentation is provided by CSI Properties Limited (the "Company") based on information available to it and does not constitute a recommendation regarding the securities of the Company and or its subsidiaries The information contained in this presentation
Slide 3: Agenda: 1H FY 2026 Financial Highlights
Agenda 1H FY 2026 Financial Section 1 Highlights Section 2 Business Update & Highlights Section 3 Near Term Strategy Appendix Overview of CSI
Slide 4: 1H FY 2026 Sales Highlights
1H FY 2026 SALES HIGHLIGHTS For the period Unrecognised ended Contracted Sales committed 30 Sep 2025 30 Sep 2025 % HK$'000 HK$'000 Group level Hong Kong residential properties 92-100 - 848,000 Hong Kong commercial properties 100 - 334,100 Macau commercial properties 60 6,280 - Sub-total 6,280 1,182,
Slide 5: 1H FY 2026 Key Disposals and Presales
1H FY 2026 KEY DISPOSALS AND PRESALES Projects sold and booked for 1H FY 2026 Location 4 units at Broadway Center (CSI-60%) Macau 2 floors at 92-96 Wellington Street (CSI – 51%) Central Completed In 1 car park at No.38 Wai Yip Street (CSI-30%) Kowloon Bay 1H FY2026 1 triplex unit at No. 8-12 Peak Ro
Slide 6: 1H FY 2026 Results Highlights
1H FY 2026 RESULTS HIGHTLIGHTS 1HFY2026 1HFY2025 (HK$m) Gross revenue from property business 124 143 Property sale 6 23 Rental income 118 120 Gross profit 36 35 Share of results of JV / associates (334) (626) (Loss) attributable to equity holders (557)* (904)* EPS (basic) (4.54) HK cents (19.63)** H
Slide 7: Stronger Balance Sheet and Continuing to Deleverage
STRONGER BALANCE SHEET AND CONTINUING TO DELEVERAGE 1H HK$mm FY2025 FY2026 Summary of Balance Sheet Properties & related assets1 1H FY 20,484 20,165 FY 2025 2026 Changes Cash & bank balances (including (HK$ (HK$ (HK$ 1,414 2,439 Billion) Billion) Billion) cash held by securities brokers) Bank Loans
Slide 8: Debt Maturity Profile Extended Out
DEBT MATURITY PROFILE EXTENDED OUT Debt maturity profile (as at Sep 30, 2025 ) Secured bank loan Syndicated loan US dollar bond Gaw Capital bond 5,000 4,000 2,862 2,841 (HK$mm) 3,000 2,000 1,744 1,499 1,546 154 984 1,000 1,005 460 1,392 342 1,118 38 337 524 38 342 0 Sep 2026 Sep 2027 Sep 2028 Sep 20
Slide 9: Pro-Forma NAV per Share as at Sep 2025
PRO-FORMA NAV PER SHARE AS AT SEP 2025 Net asset value (HK$m) Net assets attributable to shareholders (as at 30 Sep 2025) 12,955 Add • Attributable revaluation surplus relating to the group's properties held for sale as per independent valuations 1 816 • Attributable revaluation surplus relating to
Slide 10: Agenda: Business Update & Highlights
Agenda Section 1 1H FY 2026 Financial Highlights Business Update & Section 2 Highlights Section 3 Near Term Strategy Appendix Overview of CSI
Slide 11: Recent Significant Events
RECENT SIGNIFICANT EVENTS Oct May Sep 2024 2025 2025 Jun/ Feb Jul 2025 2025 11
Slide 12: Issued USD150M Senior Secured Notes in May 2025
ISSUED USD150M SENIOR SECURED NOTES IN MAY 2025 Transaction Highlights ⚫ Transaction marks CSI’s first return to the dollar bond market since 2021 and is the first unrated Hong Kong USD bond offering since August 2024 ⚫ Issuance represents our 5th bond issuance CSI since 2012, highlighting our marke
Slide 13: Projects in Construction
PROJECTS IN CONSTRUCTION Residential 92 Repulse Bay Road Luxury detached house with GFA 9,075 sq.ft target completion Q2 2026 Redevelopment (CSI – 50%) 24 Middle Gap Road Luxury detached house with GFA 8,165 sq.ft target completion Q2 2027 Redevelopment (CSI – 40%) Topside Residence Mass residential
Slide 14: Agenda: Near Term Strategy
Agenda Section 1 1H FY 2026 Financial Highlights Section 2 Business Update & Highlights Section 3 Near Term Strategy Appendix Overview of CSI
Slide 15: HKD 9bn Sales Program
HKD 9bn SALES PROGRAM We are progressing well with our committed sales program, with sales and contracted sales of over HKD5b achieved Remarks Residential Presales of the Topside Residences, residential units at Nos. 350-352 Nathan Road (51% stake) 247 units latest presold out of 259 units Presales
Slide 16: Our Track Record in Generating Sales
OUR TRACK RECORD IN GENERATING SALES Continuous disposals with additional c.HK$5 bn sales and presales achieved up to Active key asset disposals observed in the past few years, successfully navigating through market cycles Oct 2025 FY20 FY21 FY22 FY23 FY24 FY25 FY26 onwards Key disposals Recognized
Slide 17: Our Pipeline Post HKD 9bn Sales Program
OUR PIPELINE POST HKD 9bn SALES PROGRAM Residential 92 Repulse Bay Road Luxury detached house with GFA 9,075 sq.ft target completion Q2 2026 Redevelopment (CSI – 50%) 24 Middle Gap Road Luxury detached house with GFA 8,165 sq.ft target completion Q2 2027 Redevelopment (CSI – 40%) Yuen Long LS Centre
Slide 18: Agenda: Overview of CSI
Agenda Section 1 1H FY 2026 Financial Highlights Section 2 Business Update & Highlights Section 3 Near Term Strategy Appendix Overview of CSI
Slide 19: CSI Properties at a Glance
CSI PROPERTIES AT A GLANCE Over 20 Years history. Same management team since 2004 ~HK$13bn NAV 80 IRR focus in all our projects. We buy Real estate professionals. We to sell execute our own projects Our strategy is value-add and asset enhancement. Track record of 3.6mm+ sq.ft.1 Prime residential and
Slide 20: We Run Both Residential and Commercial Projects
WE RUN BOTH RESIDENTIAL AND COMMERCIAL PROJECTS RESIDENTIAL COMMERCIAL Build and market lifestyle residential developments Reposition, lease and monetize assets in prime areas Trendsetting, design- Strategic repositioning for yield enhancement Super luxury residential focused mass residential offeri
Slide 21: Proven Management – 20 Years Track Record
PROVEN MANAGEMENT – 20 YEARS TRACK RECORD Mr. Mico Chung Chairman, Founder and Executive Director ⚫ Chairman Chung was nominated as one of the “Asia’s Business Leaders” by CNBC Asia in 2014 ⚫ He has over 30 years of corporate finance and real estate experience and known for many landmark transaction
Slide 22: Our Portfolio at a Glance
OUR PORTFOLIO AT A GLANCE High-quality properties in prime locations that are for sale / generating rental income Portfolio overview (as at Sep 2025) China I Sheung Shui Dongcheng District, Beijing Yuen Long 9 H HONG KONG Shanghai 3 Jordan 6 2 4 Kowloon Bay Macau B Yau Tong Central 12 1 11 13 8 Jing
Slide 23: Notable Residential Assets – Mass Portfolio
NOTABLE RESIDENTIAL ASSETS – MASS PORTFOLIO 1. Topside Residences at 2. Deep Water Pavilia at 3. One Park Place at No. 350 Nathan Road MTR Wong Chuk Hang project MTR Yau Tong project Presales ongoing Target launch in 4Q 2025 Mass residential redevelopment with total GFA 127k sq,ft. and 259 units Pre
Slide 24: Notable Residential Assets – Luxury Portfolio
NOTABLE RESIDENTIAL ASSETS – LUXURY PORTFOLIO Penthouse Unit at “Dukes Place” Single Luxury House Single Luxury House in Jardine Lookout (CSI – 60%) at No.10 Peak Road (CSI-100%) at No.92 Repulse Bay Road (CSI – 50%) GFA c. 6k+ sq.ft (JUST SOLD) GFA c. 7K+ sq.ft. (JUST SOLD) GFA c.9k sq.ft. Single L
Slide 25: Prime Commercial Assets in Central
PRIME COMMERCIAL ASSETS IN CENTRAL 3. DL Tower 92-96 Wellington Street c.43k sqft GFA Comm’l Redevelopment (CSI: 50%) (10 floors sold strata already) 4. FOCO 46/48 Cochrane Street. 152-156 Wellington St c.32k sqft GFA 2. 152-164 Wellington Street c.99k sqft GFA Completed Comm’l (Forthcoming resident
Slide 26: Commercial Assets in Kowloon
COMMERCIAL ASSETS IN KOWLOON Harbourside HQ Capital Tower Novotel Redevelopment Hong Kong Health Kowloon East 38 Wai Yip Street 352 Nathan Rd, Jordan Check Tower c.680K sqft Office Kowloon East c. 254K sqft Commercial/ Residential (previously Everest (CSI: 25%) c.607K sqft Office Mixed Redevelopment
Slide 27: Retail Portfolio in Shanghai
RETAIL PORTFOLIO IN SHANGHAI China —— c. 244K sq.ft. fully-renovated, re-tenanted high-street retail podiums in prime locations in Shanghai Puxi In Point 四季汇 No. 169 Wujiang Rd. Pedestrian Walk c.122k sqft Street-front Primely located retail mall Richgate Plaza 华府天地 No. 1-6 Lane 333 Shimen Road Xint